Supporting International Standards

IFAC SMP Committee Response to IAASB's Request for Input, Exploring the Growing Use of Technology in the Audit, with a Focus on Data Analytics

Feb 15, 2017 | Comment Letters
4 Pages

The SMP Committee welcomes and supports the IAASB Data Analytics Working Group’s work to explore the effective and appropriate use of technology, with a focus on data analytics, in the audit of financial statements. In its view, an objectives- and principles-based approach to standard setting is now more necessary than ever, especially to prevent the ISAs from being out of date as soon as they are updated. At this point in time, the SMP Committee believes that it would be appropriate for the IAASB to expand or develop guidance in this context rather than looking to revise the existing requirements. In general, it strongly encourages the IAASB to be cognizant of the potential impact of any future developments on both SMEs and SMPs and to ensure that future proposals are proportional.


Copyright © 2022 The International Federation of Accountants (IFAC). All rights reserved.


Related Resources


Get the latest updates delivered to your inbox

Subscribe now



View Boards Site


Translations & Permissions

Looking to reproduce the standards for your members? Want to include IFAC's publications in your training materials or university course? Learn how we can help.

IP permissions and policies

Primary tabs

Thank you for your interest in our publications. These valuable works are the product of substantial time, effort and resources, which you acknowledge by accepting the following terms of use. You may not reproduce, store, transmit in any form or by any means, with the exception of non-commercial use (e.g., professional and personal reference and research work), translate, modify or create derivative works or adaptations based on such publications, or any part thereof, without the prior written permission of IFAC.

Our reproduction and translation policies, as well as our online permission request and inquiry system, are accessible on the Permissions Information web page.

For additional information, please read our website Terms of Use. ALL RIGHTS RESERVED.